Body denies that Junts has conditioned his support for the government to the refusal to the BBVA OPA to Sabadell
The Minister of Economy, Carlos Body, has sharply denied that Juns has put conditions to the support that gives the government to “intervene” in the BBVA OPA on Sabadell. On Tuesday, Economy raised the Council of Ministers the issue of OPA, which opens a period of 30 calendar days to analyze it and, where appropriate, put conditions to authorize the operation or reject it.
The minister, in an interview in the SER chain, has insisted that within that period the government has to ensure the general interest when authorizing or not the OPA, after both the European authorities and the National Commission of Markets and the competition have made their valuations, focused on the possible financial or competition effects. “The CNMC already made its valuations on competition and authorizes the merger, now the government has to look at its impact on issues of general interest and see if it has to put other conditions,” said body. The affectation in employment, financial inclusion, territorial cohesion or demographic challenge are some of those issues that could be affected, according to the minister.
“The reasons of general interest has clear dimensions, one of them has to do with financial inclusion. It is a key element, it is important to maintain a rural network to give coverage and that we can maintain the fight in the demographic challenge. Another is the protection of employment or the element of how we are able to continue giving credit to SMEs,” he explained, pointing out that it is important that there are still regional banks because they are the economic structure of the areas where They help the reindustrialization and business fabric of their regions. “These banks, during the Covid pandemic were important. Thanks to these small banks, with their best knowledge of the economic structure and risk, many companies were able to maintain credit lines and survive.”
And this, he said, has to be compatible with the financial consolidation objectives, with large banks, which is looking for the EU. In this sense, he said that he does not fear a conflict with Brussels, who yesterday said he does not see reasons to block the operation. “We are respectful of the legal framework, we follow the procedures and deadlines, there should be no conflict, our regulations are aligned with the European,” he said.
